Seth Pollack, senior associate in the firm's Elmwood Parkoffice, had the exclusive listing to market the property on behalfof the seller, a New Jersey Limited Liability Co. The buyer, alocal investor, was secured by associate, Urszula Zoltek, also fromthe Elmwood Park office. Built around 1960, this two-story retailbuilding contains a lot size of 1.29 acres and is situated on thenorthbound side of Route 1 & 9.

In a separate transaction, the firm also sold a nine-unitapartment building in Jersey City for $595,000. Investmentspecialists Maz Radwan, Steven Matovski and Christopher Rizzolo, inMarcus & Millichap's New Jersey office, marketed the propertyon behalf of the seller, a private investor. They also secured thepurchaser, a New Jersey investor/developer.

"This was a concerted effort to help our client, a 25-yearapartment operator, exit the business," says Rizzolo. "Despite thefact that this asset was delivered completely vacant, we addedvalue by arranging a purchase money mortgage along with generatingmultiple offers with very competitive terms," adds Matovski.